Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
How do you lose money investing in triple-A rated bonds? You just had to own bonds secured by the mortgage on 1740 Broadway in midtown Manhattan. These bonds generated a loss in excess of twenty five percent, write-offs not seen since the Global Financial Crisis (“GFC”). While aggregate losses are expected to be lower than those incurred in the last debt crisis, the threat to investors remains.
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